Benchmark cocoa futures fell by more than 5 percent to a two-week low on Wednesday, extending Tuesday's losses, as funds and speculators unloaded on favourable crop prospects in West Africa, traders said.
On the New York Board of Trade, the most-active December cocoa contract settled at $1,595 a tonne, down $91, or 5.4 percent.
The contract peaked at $1,639 before plunging to $1,587, the lowest level traded since August 17. Spot September likewise closed $91 lower at $1,591, after trading within a $1,590-$1,640 range. Longer-dated cocoa futures finished $88 to $89 weaker.